Some good news for homebuyers! On Wednesday 8th July it was announced that Stamp Duty on buying a home under £500,000 has been scrapped until 31 March 2021.

The Chancellor of the Exchequer, Rishi Sunak announced the measure as part of plans to help homebuyers during the coronavirus pandemic and to boost the employment market.

At the moment the threshold where you start paying stamp duty in England and Northern Ireland is £125,000 (or £300,000 for first-time buyers buying a property under £500,000).

With no Stamp Duty the average homebuyer could save around £4,500, up to £10,000 on higher valued homes.

The temporary measure is thought will help approximately 9 out of 10 people who are looking to get on or move up the property ladder.

At Sanctuary Homes we want to help you make that move. Find out more on our website about Buying with Sanctuary Homes and take advantage of the Chancellors news by discovering your new home; visit our developments or if you would like to discuss buying a new home with us you can get in touch with our Sales Advisers via our Contact Us page.

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